Who is not eligible to register?

The following are not eligible to register as a money services business (MSB). This means that they cannot own or operate an MSB or FMSB.

An individual or an entity convicted of certain offences

An individual or an entity that has been found guilty of, or guilty of being involved with, any of the following offences (or substantially similar offences under the laws of a foreign country):

See more details about these offences.

An individual or an entity found guilty of any of the following offences:

An individual or an entity found guilty of an offence or convicted more than once for any of the following:

A corporation, partnership or other type of entity if its leaders or owners are not eligible

Corporations

Leaders for a corporation include its chief executive officer, its president, or any of its directors. Owners are any individual or entity that owns or controls 20% or more of its shares.

A corporation cannot register if any of those individuals is a listed terrorist or was convicted of certain offences.

Partnerships and other types of entities

Leaders for a partnership or any other type of entity that is not a corporation include its chief executive officer, its president, or any of its directors. The chief executive officer would include the individual who is the managing partner or the general manager. Owners are any individual or entity that owns or controls 20% or more of its shares.

A partnership or any other type of entity cannot register if any of those individuals is a listed terrorist or was convicted of certain offences.

A listed person or terrorist group

A terrorist group is an organization whose name is published under the Criminal Code. You can consult that list of entities on the Public Safety Canada Web site. A listed person is an individual whose name is published in the Schedule within the Regulations Implementing the United Nations Resolutions on the Suppression of Terrorism (RIUNRST).

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